SGX Weekly Review: Singapore’s Inflation Rate, US Federal Reserve, Grab Holdings and Ant Group

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SGX Weekly Review: Singapore’s Inflation Rate, US Federal Reserve, Grab Holdings and Ant Group

The Smart Investor2023-07-29

Welcome to the latest edition of top stock market highlights.Singapore’s core inflationThere is good news for investors who are tracking Singapore’s inflation rate.Core inflation has been on a steady ...

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ThomasW
·2023-07-29
Inflation drop but in reality? Prices are still going up
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Nase
·2023-07-29
Singapore stock market millionaire em ...
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rate.Core inflation has been on a steady downtrend since the beginning of this year.After hitting a 14-year high of 5.5% in both January and February, core inflation cooled to 5% in the following two months before dropping to 4.7% in May.June saw a further decline in core inflation to 4.2%.The main reason for the fall was lower inflation for food and services.Overall inflation also dropped to 4.5% last month, down from 5.1% in May, led by a decline in private transport inflation.June also saw all sectors record a year-on-year inflation decline, and both the Monetary Authority of Singapore and the Ministry for Trade and Industry expect core inflation to moderate further in the remainder of 2023.For this year, core inflation is projected to end up between 3.5% and 4.5%.The US Federal ReserveThe US Federal Reserve has gone ahead and raised interest rates to their highest level in more than 22 years.The central bank raised rates by a quarter of a percentage point which was widely anticipated as inflation remained above its 2% target level.The benchmark overnight interest rate now stands between 5.25% and 5.5%.Its stance remains the same for future rate hikes – the committee will assess additional information, watch incoming data and study the impact of rate hikes on the economy before deciding on a course of action.The Federal Reserve could raise rates again at its September meeting if there was a need, and Chairman Jerome Powell has once again reiterated that rates will not be cut this year.Despite the repeated increases in interest rates, the US economy remains on a firm footing with a low 3.6% unemployment rate and healthy job gains.Based on these economic data, economists at the Federal Reserve are no longer predicting an impending recession.Grab Holdings (NASDAQ: GRAB)Grab, the ride-hailing and food delivery giant, is acquiring Trans-Cab.Trans-Cab is Singapore’s third-largest taxi operator with a fleet of around 2,200 taxis and 300 private-hire vehicles.The largest taxi company is still ComfortDelGro Corporation (SGX: C52), or CDG, with 8,800 taxis covering 60% of the market while SMRT Taxis (now rebranded as “Strides”) is a distant second with 2,500 taxis after buying over Premier Taxis earlier this year.The purchase price was undisclosed but is believed to be more than S$100 million.The deal, which must be approved by the authorities, also includes Trans-Cab’s vehicle workshop and fuel pump operations.Assuming regulatory permission is granted, the transaction should be completed by the fourth quarter of this year.Grab plans to launch an app that will be integrated with the mobile display units within Trans-Cab taxis to allow cab drivers to manage earnings and receive bookings from Grab’s platform and Trans-Cab’s existing call centre.According to filings with the Accounting and Corporate Regulatory Authority, Trans-Cab reported a net profit of around S$8.7 million in 2021 on the back of revenue of S$81.1 million.This purchase will cement Grab’s foothold in the taxi and private-hire car market and strengthen its presence here, pitting it against the market leader CDG. Ant GroupAnt Group, an affiliated company of Alibaba Group (NYSE: BABA), is making another try for an IPO.It has been more than two years since the fintech group’s first attempt at an IPO was suspended by the Shanghai Stock Exchange.CEO Jack Ma is planning a restructuring of the firm to break off some of its non-core operations.It will exclude its blockchain, database management services, and international businesses from the main entity.The main entity will then apply for a financial services licence in China.Once the restructuring is complete and the licence is granted, Ant Group can proceed with a public listing in Hong Kong.These are still early days, so check back here for more updates on the fintech in the coming months.Our team will be releasing a FREE 5-day email series ‘Secrets to Becoming a Singapore Stock Market Millionaire’. Discover the SGX stocks our team of expert investors buy for steady growth and reliable dividends. And use the insights to prepare a cushy retirement for yourself. Click here to get investing wisdom delivered into your inbox.","kind":null,"is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":203006230872280,"gmtCreate":1690591346629,"gmtModify":1690591350541,"author":{"id":"3558396283993528","authorId":"3558396283993528","name":"ThomasW","avatar":"https://static.tigerbbs.com/a8372efea1839b36860d65bfb69ba31a","vip":1,"crmLevel":3,"crmLevelSwitch":0,"idStr":"3558396283993528","authorIdStr":"3558396283993528"},"htmlText":"Inflation drop but in reality? Prices are still going up","listText":"Inflation drop but in reality? Prices are still going up","text":"Inflation drop but in reality? Prices are still going up","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/203006230872280","repostId":2355503546,"repostType":2,"repost":{"id":"2355503546","pubTimestamp":1690587589,"share":"https://ttm.financial/m/news/2355503546?lang=&edition=fundamental","pubTime":"2023-07-29 07:39","market":"sg","language":"en","title":"SGX Weekly Review: Singapore’s Inflation Rate, US Federal Reserve, Grab Holdings and Ant Group","url":"https://stock-news.laohu8.com/highlight/detail?id=2355503546","media":"The Smart Investor","summary":"We look at the latest inflation reading and an acquisition of a taxi company by a super-app.","content":"<html><head></head><body><p>Welcome to the latest edition of top stock market highlights.</p><h2 id=\"id_2682281855\">Singapore’s core inflation</h2><p>There is good news for investors who are tracking Singapore’s inflation rate.</p><p>Core inflation has been on a steady downtrend since the beginning of this year.</p><p>After hitting a 14-year high of 5.5% in both January and February, core inflation cooled to 5% in the following two months before dropping to 4.7% in May.</p><p>June saw a further decline in core inflation to 4.2%.</p><p>The main reason for the fall was lower inflation for food and services.</p><p>Overall inflation also dropped to 4.5% last month, down from 5.1% in May, led by a decline in private transport inflation.</p><p>June also saw all sectors record a year-on-year inflation decline, and both the Monetary Authority of Singapore and the Ministry for Trade and Industry expect core inflation to moderate further in the remainder of 2023.</p><p>For this year, core inflation is projected to end up between 3.5% and 4.5%.</p><h2 id=\"id_1948698794\">The US Federal Reserve</h2><p>The US Federal Reserve has gone ahead and raised interest rates to their highest level in more than 22 years.</p><p>The central bank raised rates by a quarter of a percentage point which was widely anticipated as inflation remained above its 2% target level.</p><p>The benchmark overnight interest rate now stands between 5.25% and 5.5%.</p><p>Its stance remains the same for future rate hikes – the committee will assess additional information, watch incoming data and study the impact of rate hikes on the economy before deciding on a course of action.</p><p>The Federal Reserve could raise rates again at its September meeting if there was a need, and Chairman Jerome Powell has once again reiterated that rates will not be cut this year.</p><p>Despite the repeated increases in interest rates, the US economy remains on a firm footing with a low 3.6% unemployment rate and healthy job gains.</p><p>Based on these economic data, economists at the Federal Reserve are no longer predicting an impending recession.</p><h2 id=\"id_3005963953\"><a href=\"https://laohu8.com/S/GRAB\">Grab Holdings</a> (NASDAQ: GRAB)</h2><p>Grab, the ride-hailing and food delivery giant, is acquiring Trans-Cab.</p><p>Trans-Cab is Singapore’s third-largest taxi operator with a fleet of around 2,200 taxis and 300 private-hire vehicles.</p><p>The largest taxi company is still <strong>ComfortDelGro Corporation</strong> (SGX: C52), or CDG, with 8,800 taxis covering 60% of the market while SMRT Taxis (now rebranded as “Strides”) is a distant second with 2,500 taxis after buying over Premier Taxis earlier this year.</p><p>The purchase price was undisclosed but is believed to be more than S$100 million.</p><p>The deal, which must be approved by the authorities, also includes Trans-Cab’s vehicle workshop and fuel pump operations.</p><p>Assuming regulatory permission is granted, the transaction should be completed by the fourth quarter of this year.</p><p>Grab plans to launch an app that will be integrated with the mobile display units within Trans-Cab taxis to allow cab drivers to manage earnings and receive bookings from Grab’s platform and Trans-Cab’s existing call centre.</p><p>According to filings with the Accounting and Corporate Regulatory Authority, Trans-Cab reported a net profit of around S$8.7 million in 2021 on the back of revenue of S$81.1 million.</p><p>This purchase will cement Grab’s foothold in the taxi and private-hire car market and strengthen its presence here, pitting it against the market leader CDG. </p><h2 id=\"id_2523645602\">Ant Group</h2><p>Ant Group, an affiliated company of <strong>Alibaba Group</strong> (NYSE: BABA), is making another try for an IPO.</p><p>It has been more than two years since the fintech group’s first attempt at an IPO was suspended by the Shanghai Stock Exchange.</p><p>CEO Jack Ma is planning a restructuring of the firm to break off some of its non-core operations.</p><p>It will exclude its blockchain, database management services, and international businesses from the main entity.</p><p>The main entity will then apply for a financial services licence in China.</p><p>Once the restructuring is complete and the licence is granted, Ant Group can proceed with a public listing in Hong Kong.</p><p>These are still early days, so check back here for more updates on the fintech in the coming months.</p><p>Our team will be releasing a FREE 5-day email series ‘Secrets to Becoming a Singapore Stock Market Millionaire’. Discover the SGX stocks our team of expert investors buy for steady growth and reliable dividends. And use the insights to prepare a cushy retirement for yourself. Click here to get investing wisdom delivered into your inbox.</p></body></html>","source":"thesmartinvestor_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>SGX Weekly Review: Singapore’s Inflation Rate, US Federal Reserve, Grab Holdings and Ant Group</title>\n<style 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margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSGX Weekly Review: Singapore’s Inflation Rate, US Federal Reserve, Grab Holdings and Ant Group\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-07-29 07:39 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://thesmartinvestor.com.sg/top-stock-market-highlights-of-the-week-singapores-inflation-rate-us-federal-reserve-grab-holdings-and-ant-group/><strong>The Smart Investor</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Welcome to the latest edition of top stock market highlights.Singapore’s core inflationThere is good news for investors who are tracking Singapore’s inflation rate.Core inflation has been on a steady ...</p>\n\n<a href=\"https://thesmartinvestor.com.sg/top-stock-market-highlights-of-the-week-singapores-inflation-rate-us-federal-reserve-grab-holdings-and-ant-group/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BK4534":"瑞士信贷持仓","BK4585":"ETF&股票定投概念","BK6519":"运输股","BK4533":"AQR资本管理(全球第二大对冲基金)","LU1242518857.USD":"FULLERTON LUX FUNDS - ASIA ABSOLUTE ALPHA \"I\" (USD) ACC","BK4558":"双十一","LU0321505868.SGD":"Schroder ISF Global Dividend Maximiser A Dis SGD","C52.SI":"康福德高企业","LU0321505439.SGD":"Schroder ISF Global Dividend Maximiser A Acc SGD","BK4524":"宅经济概念","BK4220":"综合零售","BK4535":"淡马锡持仓","BK4527":"明星科技股","BK4538":"云计算","BK4531":"中概回港概念","BK4579":"人工智能","LU1048596156.SGD":"Blackrock Asian Growth Leaders A2 SGD-H","LU1242518931.SGD":"Fullerton Lux Funds - Asia Absolute Alpha A Acc SGD","BK4550":"红杉资本持仓","BK4526":"热门中概股","BK4141":"半导体产品","BK4588":"碎股","INTC":"英特尔","BK4503":"景林资产持仓","LU0821914370.USD":"贝莱德亚洲成长领袖A2","BK4122":"互联网与直销零售","LU1688375341.USD":"贝莱德中国灵活股票基金","BK6136":"旅客陆运","BK4502":"阿里概念","GRAB":"Grab Holdings","BK4022":"陆运","BK4230":"旅客陆运","BK4505":"高瓴资本持仓","BK4504":"桥水持仓","BK4581":"高盛持仓","BK4512":"苹果概念","LU0651946864.USD":"贝莱德新兴市场股票收益A2","BK6101":"陆运","LU1880383366.USD":"东方汇理中国股票基金 A2 (C)","09988":"阿里巴巴-W","LU1051768304.USD":"贝莱德新兴市场股票收益A6","BK4548":"巴美列捷福持仓","LU1046422090.SGD":"Fidelity Pacific A-SGD","BABA":"阿里巴巴","LU0251143458.SGD":"Fidelity Emerging Markets A-SGD",".IXIC":"NASDAQ Composite","LU1515016050.SGD":"Blackrock Emerging Markets Equity Income A6 SGD-H","BK4554":"元宇宙及AR概念","BK4515":"5G概念","IE00B0JY6N72.USD":"PINEBRIDGE GLOBAL EMERGING MARKETS FOCUS EQUITY \"A\" (USD) ACC"},"source_url":"https://thesmartinvestor.com.sg/top-stock-market-highlights-of-the-week-singapores-inflation-rate-us-federal-reserve-grab-holdings-and-ant-group/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2355503546","content_text":"Welcome to the latest edition of top stock market highlights.Singapore’s core inflationThere is good news for investors who are tracking Singapore’s inflation rate.Core inflation has been on a steady downtrend since the beginning of this year.After hitting a 14-year high of 5.5% in both January and February, core inflation cooled to 5% in the following two months before dropping to 4.7% in May.June saw a further decline in core inflation to 4.2%.The main reason for the fall was lower inflation for food and services.Overall inflation also dropped to 4.5% last month, down from 5.1% in May, led by a decline in private transport inflation.June also saw all sectors record a year-on-year inflation decline, and both the Monetary Authority of Singapore and the Ministry for Trade and Industry expect core inflation to moderate further in the remainder of 2023.For this year, core inflation is projected to end up between 3.5% and 4.5%.The US Federal ReserveThe US Federal Reserve has gone ahead and raised interest rates to their highest level in more than 22 years.The central bank raised rates by a quarter of a percentage point which was widely anticipated as inflation remained above its 2% target level.The benchmark overnight interest rate now stands between 5.25% and 5.5%.Its stance remains the same for future rate hikes – the committee will assess additional information, watch incoming data and study the impact of rate hikes on the economy before deciding on a course of action.The Federal Reserve could raise rates again at its September meeting if there was a need, and Chairman Jerome Powell has once again reiterated that rates will not be cut this year.Despite the repeated increases in interest rates, the US economy remains on a firm footing with a low 3.6% unemployment rate and healthy job gains.Based on these economic data, economists at the Federal Reserve are no longer predicting an impending recession.Grab Holdings (NASDAQ: GRAB)Grab, the ride-hailing and food delivery giant, is acquiring Trans-Cab.Trans-Cab is Singapore’s third-largest taxi operator with a fleet of around 2,200 taxis and 300 private-hire vehicles.The largest taxi company is still ComfortDelGro Corporation (SGX: C52), or CDG, with 8,800 taxis covering 60% of the market while SMRT Taxis (now rebranded as “Strides”) is a distant second with 2,500 taxis after buying over Premier Taxis earlier this year.The purchase price was undisclosed but is believed to be more than S$100 million.The deal, which must be approved by the authorities, also includes Trans-Cab’s vehicle workshop and fuel pump operations.Assuming regulatory permission is granted, the transaction should be completed by the fourth quarter of this year.Grab plans to launch an app that will be integrated with the mobile display units within Trans-Cab taxis to allow cab drivers to manage earnings and receive bookings from Grab’s platform and Trans-Cab’s existing call centre.According to filings with the Accounting and Corporate Regulatory Authority, Trans-Cab reported a net profit of around S$8.7 million in 2021 on the back of revenue of S$81.1 million.This purchase will cement Grab’s foothold in the taxi and private-hire car market and strengthen its presence here, pitting it against the market leader CDG. Ant GroupAnt Group, an affiliated company of Alibaba Group (NYSE: BABA), is making another try for an IPO.It has been more than two years since the fintech group’s first attempt at an IPO was suspended by the Shanghai Stock Exchange.CEO Jack Ma is planning a restructuring of the firm to break off some of its non-core operations.It will exclude its blockchain, database management services, and international businesses from the main entity.The main entity will then apply for a financial services licence in China.Once the restructuring is complete and the licence is granted, Ant Group can proceed with a public listing in Hong Kong.These are still early days, so check back here for more updates on the fintech in the coming months.Our team will be releasing a FREE 5-day email series ‘Secrets to Becoming a Singapore Stock Market Millionaire’. Discover the SGX stocks our team of expert investors buy for steady growth and reliable dividends. And use the insights to prepare a cushy retirement for yourself. Click here to get investing wisdom delivered into your inbox.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":203005123235984,"gmtCreate":1690590965899,"gmtModify":1690590970089,"author":{"id":"4099451016804780","authorId":"4099451016804780","name":"Nase","avatar":"https://community-static.tradeup.com/news/75fd46c54802015fad711baba153fe17","vip":1,"hat":"https://static.tigerbbs.com/b073a07f77dbe6b3bec6b12311fde6bd","crmLevel":6,"crmLevelSwitch":0,"idStr":"4099451016804780","authorIdStr":"4099451016804780"},"htmlText":"Singapore stock market millionaire em ...&nbsp;","listText":"Singapore stock market millionaire em ...&nbsp;","text":"Singapore stock market millionaire em ...","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/203005123235984","repostId":2355503546,"repostType":4,"repost":{"id":"2355503546","pubTimestamp":1690587589,"share":"https://ttm.financial/m/news/2355503546?lang=&edition=fundamental","pubTime":"2023-07-29 07:39","market":"sg","language":"en","title":"SGX Weekly Review: Singapore’s Inflation Rate, US Federal Reserve, Grab Holdings and Ant Group","url":"https://stock-news.laohu8.com/highlight/detail?id=2355503546","media":"The Smart Investor","summary":"We look at the latest inflation reading and an acquisition of a taxi company by a super-app.","content":"<html><head></head><body><p>Welcome to the latest edition of top stock market highlights.</p><h2 id=\"id_2682281855\">Singapore’s core inflation</h2><p>There is good news for investors who are tracking Singapore’s inflation rate.</p><p>Core inflation has been on a steady downtrend since the beginning of this year.</p><p>After hitting a 14-year high of 5.5% in both January and February, core inflation cooled to 5% in the following two months before dropping to 4.7% in May.</p><p>June saw a further decline in core inflation to 4.2%.</p><p>The main reason for the fall was lower inflation for food and services.</p><p>Overall inflation also dropped to 4.5% last month, down from 5.1% in May, led by a decline in private transport inflation.</p><p>June also saw all sectors record a year-on-year inflation decline, and both the Monetary Authority of Singapore and the Ministry for Trade and Industry expect core inflation to moderate further in the remainder of 2023.</p><p>For this year, core inflation is projected to end up between 3.5% and 4.5%.</p><h2 id=\"id_1948698794\">The US Federal Reserve</h2><p>The US Federal Reserve has gone ahead and raised interest rates to their highest level in more than 22 years.</p><p>The central bank raised rates by a quarter of a percentage point which was widely anticipated as inflation remained above its 2% target level.</p><p>The benchmark overnight interest rate now stands between 5.25% and 5.5%.</p><p>Its stance remains the same for future rate hikes – the committee will assess additional information, watch incoming data and study the impact of rate hikes on the economy before deciding on a course of action.</p><p>The Federal Reserve could raise rates again at its September meeting if there was a need, and Chairman Jerome Powell has once again reiterated that rates will not be cut this year.</p><p>Despite the repeated increases in interest rates, the US economy remains on a firm footing with a low 3.6% unemployment rate and healthy job gains.</p><p>Based on these economic data, economists at the Federal Reserve are no longer predicting an impending recession.</p><h2 id=\"id_3005963953\"><a href=\"https://laohu8.com/S/GRAB\">Grab Holdings</a> (NASDAQ: GRAB)</h2><p>Grab, the ride-hailing and food delivery giant, is acquiring Trans-Cab.</p><p>Trans-Cab is Singapore’s third-largest taxi operator with a fleet of around 2,200 taxis and 300 private-hire vehicles.</p><p>The largest taxi company is still <strong>ComfortDelGro Corporation</strong> (SGX: C52), or CDG, with 8,800 taxis covering 60% of the market while SMRT Taxis (now rebranded as “Strides”) is a distant second with 2,500 taxis after buying over Premier Taxis earlier this year.</p><p>The purchase price was undisclosed but is believed to be more than S$100 million.</p><p>The deal, which must be approved by the authorities, also includes Trans-Cab’s vehicle workshop and fuel pump operations.</p><p>Assuming regulatory permission is granted, the transaction should be completed by the fourth quarter of this year.</p><p>Grab plans to launch an app that will be integrated with the mobile display units within Trans-Cab taxis to allow cab drivers to manage earnings and receive bookings from Grab’s platform and Trans-Cab’s existing call centre.</p><p>According to filings with the Accounting and Corporate Regulatory Authority, Trans-Cab reported a net profit of around S$8.7 million in 2021 on the back of revenue of S$81.1 million.</p><p>This purchase will cement Grab’s foothold in the taxi and private-hire car market and strengthen its presence here, pitting it against the market leader CDG. </p><h2 id=\"id_2523645602\">Ant Group</h2><p>Ant Group, an affiliated company of <strong>Alibaba Group</strong> (NYSE: BABA), is making another try for an IPO.</p><p>It has been more than two years since the fintech group’s first attempt at an IPO was suspended by the Shanghai Stock Exchange.</p><p>CEO Jack Ma is planning a restructuring of the firm to break off some of its non-core operations.</p><p>It will exclude its blockchain, database management services, and international businesses from the main entity.</p><p>The main entity will then apply for a financial services licence in China.</p><p>Once the restructuring is complete and the licence is granted, Ant Group can proceed with a public listing in Hong Kong.</p><p>These are still early days, so check back here for more updates on the fintech in the coming months.</p><p>Our team will be releasing a FREE 5-day email series ‘Secrets to Becoming a Singapore Stock Market Millionaire’. Discover the SGX stocks our team of expert investors buy for steady growth and reliable dividends. And use the insights to prepare a cushy retirement for yourself. Click here to get investing wisdom delivered into your inbox.</p></body></html>","source":"thesmartinvestor_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>SGX Weekly Review: Singapore’s Inflation Rate, US Federal Reserve, Grab Holdings and Ant Group</title>\n<style 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inflationThere is good news for investors who are tracking Singapore’s inflation rate.Core inflation has been on a steady ...</p>\n\n<a href=\"https://thesmartinvestor.com.sg/top-stock-market-highlights-of-the-week-singapores-inflation-rate-us-federal-reserve-grab-holdings-and-ant-group/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BK4534":"瑞士信贷持仓","BK4585":"ETF&股票定投概念","BK6519":"运输股","BK4533":"AQR资本管理(全球第二大对冲基金)","LU1242518857.USD":"FULLERTON LUX FUNDS - ASIA ABSOLUTE ALPHA \"I\" (USD) ACC","BK4558":"双十一","LU0321505868.SGD":"Schroder ISF Global Dividend Maximiser A Dis SGD","C52.SI":"康福德高企业","LU0321505439.SGD":"Schroder ISF Global Dividend Maximiser A Acc SGD","BK4524":"宅经济概念","BK4220":"综合零售","BK4535":"淡马锡持仓","BK4527":"明星科技股","BK4538":"云计算","BK4531":"中概回港概念","BK4579":"人工智能","LU1048596156.SGD":"Blackrock Asian Growth Leaders A2 SGD-H","LU1242518931.SGD":"Fullerton Lux Funds - Asia Absolute Alpha A Acc SGD","BK4550":"红杉资本持仓","BK4526":"热门中概股","BK4141":"半导体产品","BK4588":"碎股","INTC":"英特尔","BK4503":"景林资产持仓","LU0821914370.USD":"贝莱德亚洲成长领袖A2","BK4122":"互联网与直销零售","LU1688375341.USD":"贝莱德中国灵活股票基金","BK6136":"旅客陆运","BK4502":"阿里概念","GRAB":"Grab Holdings","BK4022":"陆运","BK4230":"旅客陆运","BK4505":"高瓴资本持仓","BK4504":"桥水持仓","BK4581":"高盛持仓","BK4512":"苹果概念","LU0651946864.USD":"贝莱德新兴市场股票收益A2","BK6101":"陆运","LU1880383366.USD":"东方汇理中国股票基金 A2 (C)","09988":"阿里巴巴-W","LU1051768304.USD":"贝莱德新兴市场股票收益A6","BK4548":"巴美列捷福持仓","LU1046422090.SGD":"Fidelity Pacific A-SGD","BABA":"阿里巴巴","LU0251143458.SGD":"Fidelity Emerging Markets A-SGD",".IXIC":"NASDAQ Composite","LU1515016050.SGD":"Blackrock Emerging Markets Equity Income A6 SGD-H","BK4554":"元宇宙及AR概念","BK4515":"5G概念","IE00B0JY6N72.USD":"PINEBRIDGE GLOBAL EMERGING MARKETS FOCUS EQUITY \"A\" (USD) ACC"},"source_url":"https://thesmartinvestor.com.sg/top-stock-market-highlights-of-the-week-singapores-inflation-rate-us-federal-reserve-grab-holdings-and-ant-group/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2355503546","content_text":"Welcome to the latest edition of top stock market highlights.Singapore’s core inflationThere is good news for investors who are tracking Singapore’s inflation rate.Core inflation has been on a steady downtrend since the beginning of this year.After hitting a 14-year high of 5.5% in both January and February, core inflation cooled to 5% in the following two months before dropping to 4.7% in May.June saw a further decline in core inflation to 4.2%.The main reason for the fall was lower inflation for food and services.Overall inflation also dropped to 4.5% last month, down from 5.1% in May, led by a decline in private transport inflation.June also saw all sectors record a year-on-year inflation decline, and both the Monetary Authority of Singapore and the Ministry for Trade and Industry expect core inflation to moderate further in the remainder of 2023.For this year, core inflation is projected to end up between 3.5% and 4.5%.The US Federal ReserveThe US Federal Reserve has gone ahead and raised interest rates to their highest level in more than 22 years.The central bank raised rates by a quarter of a percentage point which was widely anticipated as inflation remained above its 2% target level.The benchmark overnight interest rate now stands between 5.25% and 5.5%.Its stance remains the same for future rate hikes – the committee will assess additional information, watch incoming data and study the impact of rate hikes on the economy before deciding on a course of action.The Federal Reserve could raise rates again at its September meeting if there was a need, and Chairman Jerome Powell has once again reiterated that rates will not be cut this year.Despite the repeated increases in interest rates, the US economy remains on a firm footing with a low 3.6% unemployment rate and healthy job gains.Based on these economic data, economists at the Federal Reserve are no longer predicting an impending recession.Grab Holdings (NASDAQ: GRAB)Grab, the ride-hailing and food delivery giant, is acquiring Trans-Cab.Trans-Cab is Singapore’s third-largest taxi operator with a fleet of around 2,200 taxis and 300 private-hire vehicles.The largest taxi company is still ComfortDelGro Corporation (SGX: C52), or CDG, with 8,800 taxis covering 60% of the market while SMRT Taxis (now rebranded as “Strides”) is a distant second with 2,500 taxis after buying over Premier Taxis earlier this year.The purchase price was undisclosed but is believed to be more than S$100 million.The deal, which must be approved by the authorities, also includes Trans-Cab’s vehicle workshop and fuel pump operations.Assuming regulatory permission is granted, the transaction should be completed by the fourth quarter of this year.Grab plans to launch an app that will be integrated with the mobile display units within Trans-Cab taxis to allow cab drivers to manage earnings and receive bookings from Grab’s platform and Trans-Cab’s existing call centre.According to filings with the Accounting and Corporate Regulatory Authority, Trans-Cab reported a net profit of around S$8.7 million in 2021 on the back of revenue of S$81.1 million.This purchase will cement Grab’s foothold in the taxi and private-hire car market and strengthen its presence here, pitting it against the market leader CDG. Ant GroupAnt Group, an affiliated company of Alibaba Group (NYSE: BABA), is making another try for an IPO.It has been more than two years since the fintech group’s first attempt at an IPO was suspended by the Shanghai Stock Exchange.CEO Jack Ma is planning a restructuring of the firm to break off some of its non-core operations.It will exclude its blockchain, database management services, and international businesses from the main entity.The main entity will then apply for a financial services licence in China.Once the restructuring is complete and the licence is granted, Ant Group can proceed with a public listing in Hong Kong.These are still early days, so check back here for more updates on the fintech in the coming months.Our team will be releasing a FREE 5-day email series ‘Secrets to Becoming a Singapore Stock Market Millionaire’. Discover the SGX stocks our team of expert investors buy for steady growth and reliable dividends. And use the insights to prepare a cushy retirement for yourself. Click here to get investing wisdom delivered into your inbox.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"hasMoreComments":true,"newsSizeData":{"likeSize":21,"commentSize":2,"repostSize":1,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}